The Dubai Multi Commodities Centre (DMCC) is the largest and the fastest growing free zone in the UAE with over 7,330 active registrations, according to DMCC’s executive chairman.
In a statement, Ahmed Bin Sulayem said that the centre has a retention rate of 94 per cent with an average of 200 companies choosing to join DMCC each month.
Around 74 per cent of the development is already occupied with the demand for commercial space in the free zone continuing to rise.
In order to cater to this demand, the centre also recently announced plans to build the world’s tallest commercial tower. The tower and a 107,000 sqm business park will add further commercial space to DMCC’s existing 2.9 million sqm of built up area.
“We are well on our way to achieving our target of 10,000 companies by 2015, at which point we anticipate to be almost at capacity,” said Bin Sulayem.
“Our expansion plans, including the DMCC business park and the world’s tallest commercial tower, will cater to large corporations looking to access new markets and will be the next phase of Dubai and the DMCC’s growth.”
He also said that the centre is playing a key role in facilitating trade with countries across the world.
“Currently, we are concentrating on serving markets along the new Silk Route and have become a strong facilitator of trade for producing countries in African and consuming nations in Asia, Asean, Europe, South America and the US,” said Bin Sulayem.
In terms of member demographics, a third of DMCC member companies are from South Asia, a third are from the Middle East (including the UAE), and a third are from Western Europe and North America.
“This year, over 95 per cent of the companies that have chosen to operate from the DMCC Free Zone are new to Dubai, which further demonstrates DMCC’s and Dubai’s continuous appeal as a business destination where SMEs and multi-nationals alike can utilise our full-service toolkit, trade with confidence and grow their business,” said Gautam Sashittal, chief operating officer, DMCC.
Established in 2002, the free zone consists of 65 mixed-use commercial and residential towers and over 220 retail outlets in operation. There are currently over 75,000 people working and living within Jumeirah Lakes Towers.
DMCC was also the first UAE free zone authority to offer freehold business premises, in addition to other standard free zone services.